MONECO Advisors LLC raised its position in shares of Verizon Communications Inc. (NYSE:VZ) by 5.2% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 7,151 shares of the cell phone carrier’s stock after acquiring an additional 353 shares during the period. MONECO Advisors LLC’s holdings in Verizon Communications were worth $430,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Kanawha Capital Management LLC lifted its stake in Verizon Communications by 0.8% during the second quarter. Kanawha Capital Management LLC now owns 167,032 shares of the cell phone carrier’s stock worth $9,543,000 after purchasing an additional 1,338 shares during the last quarter. Arjuna Capital raised its holdings in shares of Verizon Communications by 2.6% during the second quarter. Arjuna Capital now owns 42,965 shares of the cell phone carrier’s stock worth $2,455,000 after purchasing an additional 1,082 shares during the period. Balyasny Asset Management LLC raised its holdings in shares of Verizon Communications by 205.3% during the second quarter. Balyasny Asset Management LLC now owns 16,196 shares of the cell phone carrier’s stock worth $925,000 after purchasing an additional 10,891 shares during the period. Cubist Systematic Strategies LLC lifted its position in shares of Verizon Communications by 369.0% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 54,025 shares of the cell phone carrier’s stock worth $3,086,000 after buying an additional 42,507 shares during the last quarter. Finally, River & Mercantile Asset Management LLP bought a new position in shares of Verizon Communications in the 2nd quarter worth about $2,088,000. 65.24% of the stock is owned by institutional investors.
NYSE:VZ opened at $60.32 on Wednesday. The business’s fifty day moving average price is $60.63 and its 200 day moving average price is $59.10. The firm has a market capitalization of $248.68 billion, a price-to-earnings ratio of 15.51, a PEG ratio of 3.78 and a beta of 0.51. The company has a current ratio of 0.89, a quick ratio of 0.85 and a debt-to-equity ratio of 1.99. Verizon Communications Inc. has a 1-year low of $52.28 and a 1-year high of $62.22.
Verizon Communications (NYSE:VZ) last announced its quarterly earnings data on Friday, October 25th. The cell phone carrier reported $1.25 EPS for the quarter, topping the Zacks’ consensus estimate of $1.24 by $0.01. Verizon Communications had a return on equity of 34.50% and a net margin of 12.26%. The firm had revenue of $32.89 billion during the quarter, compared to analyst estimates of $32.74 billion. During the same period last year, the company posted $1.22 EPS. The business’s quarterly revenue was up .9% compared to the same quarter last year. Equities analysts forecast that Verizon Communications Inc. will post 4.83 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be given a $0.615 dividend. This represents a $2.46 dividend on an annualized basis and a dividend yield of 4.08%. The ex-dividend date is Thursday, January 9th. Verizon Communications’s dividend payout ratio (DPR) is 52.23%.
In related news, EVP Craig L. Silliman sold 1,349 shares of the stock in a transaction on Monday, October 28th. The stock was sold at an average price of $60.42, for a total transaction of $81,506.58. Following the completion of the sale, the executive vice president now directly owns 19,983 shares in the company, valued at $1,207,372.86. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Craig L. Silliman sold 1,346 shares of the stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $59.55, for a total value of $80,154.30. Following the sale, the executive vice president now owns 18,637 shares of the company’s stock, valued at $1,109,833.35. The disclosure for this sale can be found here. Company insiders own 0.03% of the company’s stock.
A number of brokerages recently weighed in on VZ. Sanford C. Bernstein began coverage on shares of Verizon Communications in a research report on Tuesday, October 15th. They set a “market perform” rating and a $63.00 price objective for the company. Zacks Investment Research lowered shares of Verizon Communications from a “buy” rating to a “hold” rating and set a $62.00 price objective on the stock. in a research note on Saturday, January 11th. Nomura cut shares of Verizon Communications from a “buy” rating to a “neutral” rating and cut their target price for the stock from $67.00 to $65.00 in a report on Monday, November 4th. SunTrust Banks lifted their target price on Verizon Communications from $61.00 to $68.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Finally, HSBC lowered Verizon Communications from a “buy” rating to a “hold” rating and set a $65.00 target price for the company. in a report on Thursday, November 14th. Ten analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $63.41.
About Verizon Communications
Verizon Communications Inc, through its subsidiaries, offers communications, information, and entertainment products and services to consumers, businesses, and governmental agencies worldwide. The company's Wireless segment provides wireless voice and data services; Internet access on various notebook computers and tablets; international travel wireless services; and network access services to deliver various Internet of Things products and services, as well as offers digital advertising and digital media services platforms.
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